Financial Implications of a New Trump Administration

What are some of the key areas that might be affected by a new Trump administration?

• Foreign relations

• Financial changes like taxes and student loans

• Environmental policies

• Technological advancements

What is one potential change to taxes under a new Trump administration?

• Introduction of a new wealth tax

• Reduction of the standard deduction

• Elimination of income taxes on tips

• Increase in corporate tax rates

What might happen to the SALT cap under a new Trump administration?

• It will remain unchanged

• It could be lifted or modified

• It might be eliminated entirely

• It could be increased to $20,000

What is a possible change to student loan policies under a new Trump administration?

• Introduction of a universal basic income for students

• Expansion of the Public Service Loan Forgiveness program

• Continuation of the SAVE plan

• Closure of the Department of Education

What might happen to the Public Service Loan Forgiveness program?

• It will be merged with the SAVE plan

• It will offer higher forgiveness amounts

• It might be closed to new enrollees

• It could be expanded to include more professions

What is one potential change to the Affordable Care Act under a new Trump administration?

• Introduction of a public option

• Elimination of the individual mandate

• Increase in subsidies for health insurance

• Expansion of Medicaid

What is a potential impact on Medicare under a new Trump administration?

• Increase in the eligibility age

• Reduction in prescription drug prices

• Elimination of Medicare Advantage plans

• Introduction of a new Medicare tax

How might tariffs affect consumer prices under a new Trump administration?

• They will only affect luxury goods

• They could lead to lower prices on imported goods

• They might have no impact on prices

• They could result in higher prices for consumers

What is a potential consequence of increased disposable income due to tax cuts?

• Increase in demand for goods

• Stabilization of the economy

• Decrease in inflation

• Reduction in interest rates

What is the best financial advice amidst potential policy changes?

• Stick to your long-term financial plan

• Focus on short-term financial goals

• Ignore any policy changes

• Make drastic changes to your financial plan